Mawson Finland Limited (TSX-V: MFL) is pleased to confirm the closing of its previously announced brokered private placement financing for gross proceeds of C$6,000,000.50 from the issuance and sale of 3,157,895 common shares of the Company at a price of C$1.90 per Share.

The Offering was led by Stifel Nicolaus Canada Inc. as agent. The Company paid to the Agent a cash commission of 6.0% of the gross proceeds of the Offering, other than in respect certain purchasers identified by the Company on a president’s list, in respect of which no commission was paid to the Agent. The Company also paid a cash commission of 6.0% of the gross proceeds resulting from the subscriptions of certain of the President’s List Purchasers to Southpoint Capital Sagl.

Noora Ahola, President and Chief Executive Officer of the Company, stated, “We would like to thank our shareholders for their continued support as we work towards advancing and de-risking the Rajapalot project.”

The Company intends to use the net proceeds from the Offering to continue exploring and advancing its flagship Rajapalot Gold-Cobalt Project and for general working capital purposes.

Mr. MacRae, Executive Chairman and therefore an insider of the Company, subscribed to the Offering for total of 20,530 Shares at the Offering Price. The issuance of Shares to Mr. MacRae constitutes a “related party transaction” as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that Mr. MacRae’s participation in the Offering does not exceed 25% of the fair market value of the Company’s market capitalization.

All Shares issued pursuant to the Offering are subject to a four-month hold period from the date of closing.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

About Mawson Finland Limited

Mawson Finland Limited is an exploration stage mining development company engaged in the acquisition and exploration of precious and base metal properties in Finland. The Company is primarily focused on gold and cobalt. The Company currently holds a 100% interest in the Rajapalot Gold-Cobalt Project located in Finland. The Rajapalot Project represents approximately 5% of the 100-square kilometre Rompas-Rajapalot Property, which is wholly owned by Mawson and consists of 11 granted exploration permits for 10,204 hectares and 2 exploration permit applications and a reservation notification area for a combined total of 40,496 hectares. In Finland, all operations are carried out through the Company’s wholly owned Finnish subsidiary, Mawson Oy. Mawson maintains an active local presence of Finnish staff with close ties to the communities of Rajapalot.

Additional disclosure including the Company’s financial statements, technical reports, news releases and other information can be obtained at mawsonfinland.com or on SEDAR+ at www.sedarplus.ca.